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FDFF vs. IAI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDFF vs. IAI

Last updated Jul 14, 2026
Documentation

FDFF (Fidelity Disruptive Finance ETF) and IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) are both Financials Equities funds. FDFF is actively managed, while IAI is passively managed. Over the past 3 years, FDFF returned 10.50%/yr vs 28.34%/yr for IAI. A 0.79 correlation means they provide meaningful diversification when combined. FDFF charges 0.50%/yr vs 0.38%/yr for IAI.

Performance

FDFF vs. IAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Finance ETF (FDFF) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FDFF achieves a -1.88% return, which is significantly lower than IAI's 5.93% return.

FDFF

1D
0.39%
1M
6.98%
6M
-4.05%
YTD
-1.88%
1Y
-7.57%
3Y*
10.50%
5Y*
—
10Y*
—

IAI

1D
0.11%
1M
2.67%
6M
1.34%
YTD
5.93%
1Y
11.50%
3Y*
28.34%
5Y*
15.12%
10Y*
19.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FDFF vs. IAI - Yearly Performance Comparison

2026 (YTD)202520242023
FDFF
Fidelity Disruptive Finance ETF		-1.88%-2.75%27.86%16.58%
IAI
iShares U.S. Broker-Dealers & Securities Exchanges ETF		5.93%25.80%34.37%20.40%

Correlation

The correlation between FDFF and IAI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.79

Correlation (3Y)
Calculated over the trailing 3-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2023

0.79

The correlation between FDFF and IAI has been stable across timeframes, ranging from 0.79 to 0.79 - a consistent structural relationship.

FDFF vs. IAI - Sectors Allocation Comparison

Sectors
FDFF
IAI

Financial Services

75.4%
99.9%

Technology

18.8%
0.1%

Industrials

4.2%

-

Real Estate

0.8%

-

Consumer Cyclical

0.8%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Utilities

-

-

Financial Services

FDFF
75.4%
IAI
99.9%

Technology

FDFF
18.8%
IAI
0.1%

Industrials

FDFF
4.2%
IAI

-

Real Estate

FDFF
0.8%
IAI

-

Consumer Cyclical

FDFF
0.8%
IAI

-

Basic Materials

FDFF

-

IAI

-

Communication Services

FDFF

-

IAI

-

Consumer Defensive

FDFF

-

IAI

-

Energy

FDFF

-

IAI

-

Healthcare

FDFF

-

IAI

-

Utilities

FDFF

-

IAI

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Disruptive Finance ETF

iShares U.S. Broker-Dealers & Securities Exchanges ETF

Often compared with FDFF:
FDFF vs. FDIFFDFF vs. FMEDFDFF vs. FDVVFDFF vs. FDTXFDFF vs. FBCGFDFF vs. FXAIXFDFF vs. TIME
Often compared with IAI:
IAI vs. KCEIAI vs. XLFIAI vs. SPYIAI vs. QQQIAI vs. KIEIAI vs. FASIAI vs. SOXX

Return for Risk

FDFF vs. IAI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FDFF
FDFF Risk / Return Rank: 66
Overall Rank
FDFF Sharpe Ratio Rank: 66
Sharpe Ratio Rank
FDFF Sortino Ratio Rank: 66
Sortino Ratio Rank
FDFF Omega Ratio Rank: 66
Omega Ratio Rank
FDFF Calmar Ratio Rank: 66
Calmar Ratio Rank
FDFF Martin Ratio Rank: 66
Martin Ratio Rank
IAI
IAI Risk / Return Rank: 2020
Overall Rank
IAI Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
IAI Sortino Ratio Rank: 2020
Sortino Ratio Rank
IAI Omega Ratio Rank: 1919
Omega Ratio Rank
IAI Calmar Ratio Rank: 2020
Calmar Ratio Rank
IAI Martin Ratio Rank: 2121
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FDFF vs. IAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Finance ETF (FDFF) and iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

FDFFIAIDifference
Sharpe ratioReturn per unit of total volatility
-0.41
0.58

-0.99

Sortino ratioReturn per unit of downside risk
-0.45
0.92

-1.37

Omega ratioGain probability vs. loss probability

0.95

1.11

-0.16

Calmar ratioReturn relative to maximum drawdown

-0.34

0.70

-1.04

Martin ratioReturn relative to average drawdown

-0.64

1.96

-2.60

FDFF vs. IAI - Sharpe Ratio Comparison

The current FDFF Sharpe Ratio is -0.41, which is lower than the IAI Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of FDFF and IAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FDFF vs. IAI - Drawdown Comparison

The maximum FDFF drawdown since its inception was -23.06%, smaller than the maximum IAI drawdown of -75.46%. Use the drawdown chart below to compare losses from any high point for FDFF and IAI.

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Drawdown Indicators

FDFFIAIDifference

Max Drawdown

Largest peak-to-trough decline

-23.06%

-75.46%

+52.40%

Max Drawdown (1Y)

Largest decline over 1 year

-22.31%

-16.52%

-5.79%

Max Drawdown (3Y)

Largest decline over 3 years

-23.06%

-23.14%

+0.08%

Max Drawdown (5Y)

Largest decline over 5 years

—

-28.84%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.38%

—

Current Drawdown

Current decline from peak

-10.89%

-0.32%

-10.57%

Average Drawdown

Average peak-to-trough decline

-6.60%

-22.56%

+15.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.77%

5.88%

+5.89%

Volatility

FDFF vs. IAI - Volatility Comparison

The current volatility for Fidelity Disruptive Finance ETF (FDFF) is 4.75%, while iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) has a volatility of 6.63%. This indicates that FDFF experiences smaller price fluctuations and is considered to be less risky than IAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FDFFIAIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.75%

6.63%

-1.88%

Volatility (6M)

Calculated over the trailing 6-month period

14.68%

15.77%

-1.09%

Volatility (1Y)

Calculated over the trailing 1-year period

18.59%

19.86%

-1.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.98%

21.48%

-2.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.98%

22.71%

-3.73%

FDFF vs. IAI - Expense Ratio Comparison

FDFF has a 0.50% expense ratio, which is higher than IAI's 0.38% expense ratio.

Dividends

FDFF vs. IAI - Dividend Comparison

FDFF's dividend yield for the trailing twelve months is around 1.01%, less than IAI's 1.09% yield.

PositionTTM20252024202320222021202020192018201720162015
FDFF
Fidelity Disruptive Finance ETF		1.01%0.86%0.70%0.27%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IAI
iShares U.S. Broker-Dealers & Securities Exchanges ETF		1.09%0.95%1.05%1.80%2.14%1.31%1.55%1.52%1.58%1.37%1.49%1.31%

Frequently Asked Questions

FDFF and IAI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IAI has higher volatility (6.63%) compared to FDFF (4.75%). In terms of maximum drawdown, FDFF dropped -23.06% vs IAI's -75.46%.

On 3-year performance, IAI leads with 28.34% vs 10.50% for FDFF. On fees, IAI is cheaper at 0.38% per year. On volatility, FDFF has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IAI has performed better with a 28.34% return vs 10.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAI is cheaper with a 0.38% expense ratio, compared with 0.50% for FDFF.

IAI has the higher dividend yield at 1.09%, compared with 1.01% for FDFF.

They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.50% for FDFF and 0.38% for IAI.

IAI currently has the higher Sharpe Ratio (0.58 vs -0.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for FDFF and IAI

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